Kim Kardashian West sells stake in beauty brand for $200M

 Kim Kardashian West is selling a stake in her beauty brand for $200 million, in a deal that values TV reality star's three-year-old business at $1 billion.

buyer is Covergirl owner Coty Inc., which will get a 20% stake in KKW Beauty. Coty seems to be enamored with Kardashians: Last year, it bought a 51% stake in makeup line started by Kardashian West's younger sister, Kylie Jenner.

“Kim is a true modern day global icon,” said Coty CEO Peter Harf, which is similar to what

Kardashian West, who stars on long-running reality TV show “Keeping Up with Kardashians,” founded KKW Beauty in 2017 and tapped into her hundreds of millions of social media followers to sell lip gloss, body foundation and perfume.

39-year-old will still promote KKW Beauty online and will help create new products.

Coty plans to expand brand into more countries around world and possibly into or categories, like skin creams and shampoos. It also hopes that buzzy brand can help boost sales and connect with younger shoppers who spend a lot of time on social media.

Coty’s brands, including Max Factor makeup and Sally Hansen nail polish, can't compete with KKW Beauty's reach. Max Factor, for example, has 585,000 Instagram followers. KKW Beauty has 4.4 million.

Coty, which expects deal to close next year, didn't reveal any sales data for KKW Beauty. Shares of New York-based Coty rose more than 13% to close at $4.74 Monday.

It's been a busy summer for Kardashian West's family. On Friday, her husband Kanye West anunced a deal